tv The Rachel Maddow Show MSNBC August 2, 2011 6:00pm-7:00pm PDT
me tonight and thank you very much for your work. >> thank you and thank you for your fans and all you've done for malawi, greatly appreciate it. have the last word online. "the rachel maddow show" is up next. good evening, rachel, welcome back. >> very, very good to be back. good to see you in l.a. thanks for you as well for staying with us. we are coming live from los angeles, i have to say, it's very, very good to be back from vacation and back at work. on september 9, 2008, the u.s. house of representatives took a vote on emergency action to stop the collapse of wall street. with lehman brothers gone, with bear sterns gone, with eig on the way to gone, with the largest economy teetering on the brink of financial collapse, the house of representatives voted on whether or not to take emergency action to prop it up temporarily, to stop catastrophe. remember this? the house took a vote on that that day, and what they voted
was no. they voted against that emergency rescue plan, and as a result wall street looked like this. >> where do we go from here? >> they don't have enough. >> we're going to go down -- ton of uncertainty. >> this has gone down now? >> what happened, steve? >> find out if it's possible to change votes, because by my math, this can be bad. i don't think they can pass it now with the remaining no votes being 17. >> wall street believed congress would pass the bailout package, then a wild day before the dow closed down 777 points a 7% drop. >> a 7% drop, biggest one-day point drop in the history of the market. that was september 29, 2008. again, the context there was that there was a deal on the table to save the economy. the house voted no and that's how the markets reacted. well, today, nearly three years
later, again, there was a deal on the table to save the economy. this time congress voted yes and the markets reacted exactly the same way. >> we've got about ten minutes to go here before the closing bell and it's a bit of a blood bath. dow down 257 points. >> maybe wall street's sending a signal to washington. >> yeah. >> today after congress voted to raise the country's debt ceiling and thereby avoid catastrophic national default, the market fell off a cliff. the dow lost 265 points, its eighth consecutive day in the red and its biggest point loss in month. cnbc does the heat map for the s&p 5005, an index of the largest most actively traded companies on the stock market. this heat map lists all on one big board, each company represented by a box. if the box is green, that means
the company is up for the day. if the box is red, that means the company is gone. here's what cnbc's heat map looked like today. yeah, it was that kind of day on wall street. after the debt ceiling deal got signed, that's what happened on wall street. about 20 little green boxes lost in a sea of about 480 red ones. everybody's been talking about how the markets would tank if we didn't reach a debt ceiling deal, today we got a debt ceiling deal and the markets still tanked. and the markets tanked because this debt ceiling deal, which was passed today in the senate and signed into law by a lonely president obama, signed into law with nobody standing behind him, this debt ceiling deal is essentially telling an economy that now it needs to lay down in the road again so we can back up over it and run it over a second time. the non-partisan economic institute estimated the debt deal will directly cut 325,000
jobs from the economy, it will slow down economic growth by 0.3%. that's just the direct cost of the cuts republicans forced in this deal. the account for the fact that democrats also did not use this deal to extend unemployment insurance or the payroll tax cut, if you factor in they didn't do those two things, which would stimulate the economy, and you factor in those cuts, then this deal today is estimated to result in 1.8 million fewer jobs in america. it's estimated to take 1.5% off american economic growth. total growth in the economy right now is only about 1.3%. this deal has the potential to take 1.5% off of that, which brings us to negative 0.2% economic growth. in other words, heading back into a recession. that is the achievement, the achievement of a deal in
washington that republicans in congress were patting themselves on the back about today. >> when you look at this final agreement that became here to the white house, i got 98% of what i wanted. i'm pretty happy. >> i'm pretty happy. i'm pretty happy. speaker john boehner, speaker of the house john boehner does, in fact, seem pretty happy. the markets are clearly not happy, looking at this deal that may have just been 1.8 million jobs out of the economy when we're already in very bad shape is not feeling very happy about it either. add to this an unhappy warning today from treasury secretary timothy geithner that even though default was avoided at the last minute we are still not out of the woods. we still may get our credit downgraded as a result of this whole mess. late tonight the credit rating agency moody's announced the u.s. will retain its aaa credit rating but the outlook is listed
as negative. >> in the last few months, the economy's already had to absorb an earthquake in japan, the economic head winds coming from europe, the arab spring and rile in oil prices, all of which have been very challenging for the recovery. but these are things we couldn't control. our economy didn't need washington to come along with a manufactured crisis to make things worse. that was in our hands. it's pretty likely that the uncertainty surrounding the raising of the debt ceiling for both businesses and consumers has been unsettling and just one more impediment to the full recovery that we need, and it was something we could have avoided entirely. >> president obama indicated today that now that this, as he described it, self-created debt ceiling fight is behind us, the white house and congress, all of washington, should pivot towards
jobs. now that this fake crisis is out of the way, we can focus on the real crisis, unemployment crisis that's been hanging around the neck of the country like a lead weight. president obama mentioned jobs, that word jobs, 11 separate times. this morning before the debt ceiling vote passed the senate, the president met with a labor union federation to talk about economic growth and putting americans back to work. mr. obama is pushing for an infrastructure bank, there's a training bill for iraq and affection working its way through congress. the only thing they want to talk about is jobs, j-obo, the way they are trying to get people to cover it is now that they have done this, now that they have essentially given republicans what they wanted, that means they have checked the box on deficit reduction, they have chekd the box on giving republicans what republicans said they want. now they are guessing
republicans are going to have to give, what, democrats some of what they want? if that is what the white house is calculating here, that is not at all how these things work these days. if you're the republicans, you don't come out of a negotiation you just won deciding you're going to lose the next one to be fair and if you're the democrats you shouldn't come out a negotiation you just lost expecting you'll win the next one because it's your turn. you do not get concessions from republicans by giving them what they want. they do not operate on a give and take basis. it's not sharesville. republicans, for instance, have not said president obama you have been so strict on boarding people, doesn't work that way. president obama, in fact, became the deportation president. he got strict on border security, but republicans -- hell no he's not going to get what he wants on immigration
reform. when republicans pass a democratic president politically, they are doing it for a fact. they are not giving an honest analysis of his record, they are throwing epithets, the epithets are the same, who passed the biggest middle tax cut in the history of the united states? barack obama did. it was the stimulus actually, true. when is the last time you heard republicans credit barack obama for his tax-cutting prowess, his record-breaking tax cutting prowess? even in raw political terms president obama has to be thinking of not just the health of the country right now, but the health of his prospects for reelection, he's staring down an unemployment rate of 9.1%. that's now about to get hit with this debt ceiling deal that could bring the economy to a screeching halt and throw it into reverse. the idea president obama has made republicans happy and now they'll go along with him on
creating jobs implies that president obama has gained leverage with republicans going forward. i don't think that's true. it also implies that republicans share the goal expressed by the white house today of trying to make the economy better. >> when you look at this final agreement that we came to with the white house, you know, i got 98% of what i wanted. i'm pretty happy. >> joining us now is democratic congressman, peter welch of vermont, congressman welch voted no on the debt ceiling bill that passed the house last night. thanks for your time, it's good to have you here. >> good to be here. >> why did you vote no on this deal? >> this is a job-killing budget deal. plain and simple. two problems, one is policy, one is politics. on a policy level, what we've done is absolutely gone into contraction. this is all cuts, it's no
revenues association the capacity to build jobs to get our economy moving is limited very dramatically by this agreement. secondly on to politics, we've passed the rubicon, given a tool to the willful minority in the senate or willful majority in the house to hold hostage our aaa credit, aaa bond rating. >> what's the way back across that rubicon as it were? what's the way to take this, i guess this tactic, this sort of brinksmanship off the table? do you think now and when this comes up again in 2013, democrats should take steps to avoid this type of stand off again? >> we have to. we made a big mistake, rachel, in december. that's when the bush tax cuts expired. president wanted to extend them for the middle class, we
supported that, but mitch mcconnell held a ransom, $800 billion added to the deficit. we failed at this time. this is political mall practice on our part to get a expension. we got to get a little tougher here, more practical and realize the implications of our actions. second, what we have to do is double down on building jobs. what you're seeing as a result of this debt ceiling agreement really is not focus on the interest rates, but focus on how this is contracting the economy and the markets, as you have indicated, greeted this with about a 7-point reduction in the last week, so the markets are figuring out that a slow economy is probably going to make it tougher for us to pay back our debts. the democrats have to concentrate constantly, repettively, consistently, on jobs, jobs to rebuild our infrastructure, it's a disgrace
what's going on with our roads and bridges, building and deploying broadband, having an energy policy that takes advantage of the opportunities to move to a clean post hv carbon energy economy, and we have to rebuild in our cities and towns our sewer and water systems. these are things that will put people to work, they are visible in the community, they have a lifetime, a generational return. these are all things that we can do. you know, we have to step back as a country and as a party and say if we have confidence in ourselves and in our future, we're going to invest in our future and we're going to do what it takes to put america back to work. we are about the american dream. we have work to do. >> that type of spending that you were describing on infrastructure, those types of investments, even investments in clean energy, those types of jobs nirnttives, investments are not the type of spending plans, not the type of inish tiffs,
those are things republicans say we agree. does that mean that it is possible to pass it in washington right now both through the house and the senate that would increase our investment, increase spending on the type of infrastructure programs you were just describing? >> well, basically what we saw today was the ideology of the tea party prevailing, very simple, lower taxes for everybody, particularly the so-called job creators, lower spending, and that will build a stronger economy, that's a herbert hoover philosophy and didn't work so well last it was tried. you have to be more assertive, more confident. there are some republicans who come from communities where they have infrastructure issues and they know their public supports that type of spending. we put some handcuffs on ourselves with this budget agreement, but i think that's where the democrats and when we can reach out to republicans, that's where we have to concentrate. americans have -- they will support spending when they know it's about investing in the
future, when generations are going to be benefitting by it. and really it's a matter after restoration of our own confidence and our ability to move ahead, that the investments we do will make a difference, will be beneficial not just to us but to our kids. we have to bring that fight back to rebuilding america. >> democratic congressman peter welch from vermont, thanks so much for your time, appreciate the chance to talk with you about this. >> thank you. for reasons i cannot totally explain, one of the things i do well and often is that i can find dark linings to otherwise silver clouds. tonight, a departure, a reversal, there may, in fact, be a silver lining to our debt ceiling deal. there's maybe, maybe, maybe, a teeny, teeny, teeny -- something not entirely terrifying to report about it and that is next. thank you for calling esurance.
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♪call 1-800-steemer. before president obama signed the bill this afternoon that will crash the economy into a big concrete boll ard, in order to avoid driving the economy off the cliff altogether, president obama took time this morning to meet with the afl cio. remember, jobs, jobs, jobs. but then after that, president obama met with our nation's defense secretary, leon panetta, why the defense secretary, why today of all days? because under this debt ceiling
deal, defense seems to be the biggest item slated for cuts, at least maybe for cuts both in terms of the short-term and in terms of the cuts that would come into play if congress doesn't agree on big generic spending reductions, thus triggering automatic deep cuts, those could account to 10% of the pentagon's annual budget. when president obama chose leon panetta to be his new secretary of defense, not just the cia director, did the president make that choice of mr. panetta in part because he saw changes coming at the pentagon? could we actually be changing course on the single biggest thing in american politics that never really gets debated? the single largest chunk of money in american politics and government, the single biggest thing in american government that affects all of our lives and every single thing about the way america is seen around the world but is usually off limits for political debate at home? could we be changing course on
how much america spends on our military? when ronald reagan took office the national debt about about $1 trillion. when he left it was more than $2.5 trillion. he doubled it. it is not easy to spend that much money. he did it by instituting the largest increases in defense spending ever in our country when we weren't fighting a war. those huge increases in defense spending blew everybody's mind in the 1980s. it was almost impossible to believe how much we increase defense spending but then when the berlin wall came down and the soviet union fell everybody thought okay, cold war's over, maybe now that the cold war's over we'll stop spending all of this money on defense, but that never really happened on a big scale. we never went back to the way it had been. the skyrocketing reagan era spending sort of became the new national norm. it went down a bit through the bill clinton presidency, flattened out a bit then. look what happens after 9/11
with the two george w. bush wars. defense budget that's doubled. that's what happens. it's reagan bombing the budget to hell all over again but this time now it seems normal, and then we get to president obama, supposedly winding down both of those george w. bush wars. but does that graph look like a war is winding down kind of trend? we are still, even now, at prevng ilyn absolute terms. the difference between today's defense spending and spending of ronald reagan, the amount now is not unimaginable, now it's hard to imagine not spending it. there are two defining features of money and government. the tax rates have come down to a 50-year low and that defense spending in this country dwarves what the rest of the world spends on defense. those are the defining economic
features of american government in this lifetime. america's spending what the rest of the world spends on defense combined and not debating it at home. that's what it's been like my whole life. could the defense part of that equation finally be beginning to change? joining us now is josh rogin, staff writer for foreign policy magazine. thanks for your time. >> thank you, welcome back. >> thank you. the piece says it all. lev vin and mccain, we have no idea how much debt deal cuts defense.ns cuts here are. is the vagueness of the numbers here intentional, do you think? >> it's totally intentional and it's intentional on all sides, republicans, zpdemocrats, administration have a vested interest in not telling the defense cuts. i hate to burst your bubble, no
defense cuts guaranteed. there's the prospect of defense cuts, possibility of defense cuts, there's even the threat of defense cuts, but that doesn't matter when the rubber meets the road. this is all part of a very long pattern of the sides claiming to have big savings from cutting defense or getting out of the wars iraq and affection to portray an image of savings that doesn't force the pentagon to make hard choices about rolls, admission, things wrong in budget and it's a lot of smoke and mirrors and what it's resulted in is beginning the discussion about defense cuts, which is not resulting in actual cuts and the details do not exist. it's really amazing. >> i think that's the most interesting thing to me about this is that what they are sort of setting up in washington is an opportunity to think about it, if not fight about it. i think the concept is that we're not yet ready to fight about defense cuts as a party. neither party is ready to have
that as an argument, and the big cuts that would go into effect if that trigger is pulled, again, months if not years down the road, those would be cuts that would be significant. those would be on the order of 10% of what the pentagon has in its yearly budget. is that trigger simply designed to be scary, never designed to be policy? >> well, you're absolutely right here that it is time to start thinking about it. there's no way to avoid thinking about considering the state of our economy and our fiscal situation. if we're going to have this discussion after decades of not having it, we have to have it honestly and nobody in this debate is having that debate honestly. look at the obama administration. they claim that this deal would cut $350 billion from the defense over the next ten years? it's just not in the bill. harry reid claimed $1 trillion in savings from drawing down the wars in iraq and afghanistan. we're going to draw it down anyways. paul ryan did the same exact
thick. the trigger thing you mentioned is the perfect example of this. it's a threat. it's meant to be so distasteful as to force congress to compromise because if they don't compromise, defense will be arbitrarily cut at the $600 billion number. if you look at that threat and if they have to implement it, guess who has to decide the details of this? congress. future congress. now let me really blow your mind, that $600 billion cut is based off a fake number, cbo baseline, it's a projection of defense spending that no one ever thought was real. you could cut billions from the defense budget and the defense budget could still keep rising. it's comparing fake numbers against fake numbers so everybody can claim to cut the defense sit and budget. >> having a pageant that's about a play that is based on history in order to talk about what's going on in current events.
it's a designed to get our minds wrapped around it but it's not. josh rogin, author of the blog the cable, josh, really appreciate your help with this. thanks a lot. >> any time, thank you. what happens when one giant government freakout dominates the entire news cycle for weeks at a time. what happens? other crises flourish. republicans were barely able to stop themselves with the ruination of the country's economy on purpose, they were also able to shut down a critical government agency. as a person who personally has to be on an airplane tonight, i wish they had not done that. that story is coming up. this summer put your family in an exceptionally engineered mercedes-benz now for an exceptional price during the summer event. but hurry, this offer ends august 31st.
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once upon a time, the economy blew up like somebody threw a fragmentation grenade into it. that happened because of irresponsible behavior by wall street, a deregulated wall street making itself very rich by doing risky things with billions and trillions of dollars with other people's money. after the crisis, democrats and congress passed the wall street reform bill, one component of the reform bill they passed was a consumer protection agency for financial stuff. the government had long taken the position if you buy a toaster or curling iron in the united states, it shouldn't be one that burns your house down. add have kalts argued people's mortgages and student loans and credit card agreements shouldn't burn you down either, and so the
consumer financial protection agency was born. republicans in congress said they would never let elizabeth warren be appointed to run an agency like thatnt obama appointed instead someone who worked with her to set the agency announce. today republicans announced they will not let him run the agency either, they will not let anyone run the agency, they'll filibuster anyone the president nominates to run it. while the senate is in recess, senate republicans announced today they'll keep the senate technically in session the whole time they are away until they are back in september so no one can run that agency. no one at all, because what could possibly go wrong in a financial sector operating without rules?
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seriously, though, this is quite excellently interesting. all year republicans in d.c. and in the states have been crusading really hard against union rights. modern conservativism is hostile to unions, they like to talk about what they call the job creators, not the job halvers. corporate profits are set to hit an all-time profit as we decide whether -- so calling corporations job creators right now is starting to feel a little bit like a sick joke, but that is whose side today's republicans have taken. and taking that side means trying to eliminate union rights, which makes corporations very happy with whom the republicans they've donated and which has the happy political side effect of gutting the best organized, most effective political force that typically helps democrats come election
time. in the van guard state of wisconsin this year, paul walker's plan to cut union rights led to protests which filled the capitol city of madison for weeks, after the protests and political tactics, the union-stripping bill did become law in spring, but that's baring consequences, six republican state senators put up by wisconsin voters for recall. on tuesday, a week from today, those six republican state senators will have to defend their seats in recall elections against bone fied democratic challengers. what happened to protests in february and march is coming down to real voting in august. one group, we are wisconsin, who backs the democratic side in this fight announced on friday it had made more than a million voter contacts in lacrosse, wisconsin. officials say they do not know what caused that blaze, luckily no one was hurt in the we are wisconsin offices or six
adjoining apartments that burned. today we are wisconsin planned to open shop again at the plumbers and steam fitters local. also on saturday, same day as the fire a voter filed a formal complaint over a mailer he got from the group americans for prosperity. americans for prosperity, supported by the oil and chemical billionaire coke brothers. this was first posted online by politico.com. it was an application for an absentee ballot, says the deadline for voting is august 11th. august 11th is two days after the recall election in the area this mailer was sent. it's two days too late. the state director for americans for prosperity blames all this on a typo. "this went out to our members. i'm sure the liberals will try to make a mountain out of a mole hill in an attempt to distract voters attention from the
issues. that's the reaction from this group, it only went to the members. nothing to see here, move along mole hill mountain people. here's the complaint "i believe i was targeted by this group because i'm a democrat and a senior citizen." wisconsin democrats are hoping to gain three seats in the recalls, enough to turn the state senate back from red to blue. one of them, dave hansen, successfully defended his seat last month. the polls say, really, the action here is with the six republican state senators that could get the boot. with local races like this it could be tough to tell how things are playing out. daily coast has been posting data showing democrats with narrow leads in two races and a big lead in one of them. there's that if you're looking for something to steer by. also this, the state democratic party chairman in wisconsin today citing internal polls that
show democrats with a lead or a tie in all of next week's races recalling republicans. saying all six of those races are eminently winnable. some of this, of course, is just a political animal barking into the wind, you have to look like a winner before you can be a winner, but we are one week away now, one week away from knowing if wisconsin republicans celebrated anti-union rights binge and the budget that went along with it, we are one week from learning whether or not that churned up a lot more than a lot of people's resentment. in one week we will find out if it has also churned up a majority of the vote. joining us now is jon erpenbach, he and 13 other state senators left the state in an attempt to halt passage of the union-stripping bill. senator erpenbach, good to see you. >> good to see you too and welcome back. >> thank you. things are going great for your
side of things coming up to tuesday's elections. what are your expectations for these elections, what do you think is going to happen? >> well, i tell you what, rachel, we could win anywhere from two seats to four or five seats, it depends. it is close in two seats and we are ahead in three other seats. keep in mind, we're ahead in republican areas, republican state senate seats, some of these seats have been held by a republican for over 100 years so just the fact that we're leading in three of them and it's a tossup in three other seats it says a lot for what we're trying to do. >> one of those democrats has successfully defended his seat, two more, what do you think about those races? >> we have bob wirch in southeastern wisconsin, it is built on labor tradition, goes way back as far as labor families are concern.
bob should be in good shape. jim represents nod.rt i've been up in his district now four or five times at events, 400, 500 people are showing up. if we have a close race, it would be that one, but i don't think we'll be outworked so i think jim will win. >> in terms of the rest of the country watching wisconsin here, part of the reason these recall elections are national news is because the scott walker and republicans agenda, this very, very strong anti-union agenda has a lot of national resonance and people are wondering if that upset is enough to actually flip election results back the other way, and in wisconsin right now, you guys need to -- you democrats need to net three seats in order to flip the senate back to democratic control. if that happens, what are you going to show the country you want to do with that? what would your priorities
become? >> that's a great question. i guarantee those who are watching closest around the world, around the country, are republican governors and state legislators. if we do stem the tide here, it's going to send a loud and clear message for those who want to take away workers rights and other things throughout the country, they are probably going to back down. what we want to do in the state senate is restore worker's rights as best we can, but the one thing we're going to get out of this is we're going to be able to show governor walker one thing we've been trying to do all along, sit down and negotiate and compromise. he'll have to actually sit down and listen to democrats and their thoughts and ideas. that will be something new for the governor. one thing we'll be able to do is start the ball moving forward talking about health insurance reform, talking about environmental issues we want to talk about and obviously restoring worker's rights. >> how much did the national wins affect what's going to
happen in wisconsin right now? we're about to talk on the show about how there's another union rights standoff that's shut down the federal aviation administrati administration. news for weeks has been about washington and the debt ceiling, people raising the prospect that deal president obama ultimately had to sign may be so distasteful the democrats nationally will lose their taste for all sorts of politics. do you see those national winds blowing through wisconsin? >> not so much right now, but the republicans at the national level did the same things the republicans did here, they took what normally is not a controversial move, normally raising the debt ceiling is a one-sentence bill and it passes and they loaded it up with agenda items. i saw we're losing 300,000 jobs with the president's signature today. these are middle class jobs, those people don't seem to care
about. but as far as what i'm seeing here in wisconsin is a tremendous amount of passion. people showing up that have never worked in politics before, never worked on a campaign before. they are phoning, going door-to-door, passing out leaflets, doing whatever they can. we're going to have thousands of volunteers to make sure we bring home a democratic majority next tuesday night. there's a lot of passion, lot of excitement here in wisconsin. >> jon erpenbach, democratic senator from wisconsin. we've talked to you a lot during the ark of this, looking forward to talking to you over the next few weeks. thank you. on "the ed show" tonight, the congressman who started calling the debt ceiling bill what it will be called forever in history now, the man who called the debt ceiling a satan sandwich will be on "the ed
show." and what congress did that's going to cost us all $30 million a day for the foreseeable future. details to come. [ male announcer ] this is the network. a network of possibilities. excuse me? my grandfather was born in this village. [ automated voice speaks foreign language ] [ male announcer ] in here, everyone speaks the same language. ♪ in here, forklifts drive themselves. no, he doesn't have it. yeah, we'll look on that. [ male announcer ] in here, friends leave you messages written in the air. that's it right there. [ male announcer ] it's the at&t network. and what's possible in here is almost impossible to say. ben and his family live on this block. ben's a re/max agent, and he's a big part of this community. re/max agents know their markets,
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there's another stalemate in congress right now involving our aviation industry. which has stalled airport construction projects all around the country. and put the jobs of tens of thousands of construction workers and others at risk. because of politics. it's another washington inflicted wound in america. and congress needs to break that impasse now, hopefully before the senate adjourns. so these folks can get back to work. >> these folks are probably not getting back to work. the federal aviation administration agency has been partially shut down. 4,000 people who work there, furloughed directly, safety inspectors working without pay. hundreds of construction projects are halted, which means tens of thousands more people
idle to not working. this has been going on for a week and a half now. today we learned there will be a day 12 of this shutdown. and a day 13 and very likely a day 40. because congress is now out of session until september. before leaving town, house republicans rejected the democr democrats compromise deal on a temporary fund iing bill for th agency. they haven't had funding for four years. they extended funding 20 times, but for some reason the 21st time we have a problem on our hands. delta has decided they will shut down the whole faa to make
congressmen move. the shutdown is keeping tens of thousands of construction workers off of these jobs. >> because they passed the bill and said to the united states senate, either you take it our way or it will be no runway and no highway, and no way. >> transportation secretary ray lahood went to new york city's laguardia airport yesterday to point out the impact of this partial shutdown. he stood in plain view of an old traffic control tower that's supposed to be demolished by a company based in brooklyn. the contract to do that work is for $6 million. a whole bunch of jobs, right? like the other $2.5 billion worth of improvement projects this one is on hold. secretary lahood has said the partial shutdown will not affect airline safety amid all the chaos and uncertainty here, the faa did miss a deadline to publish new safety rules. and to add injury to the
existing insult here, in addition to all the people out of work and the work that needs to get done not getting done. the faa shutdown is also projects to directly cause taxpayers more than a billion dollars. when you buy an airline ticket, you pay tax on that ticket that the faa collects, except with no faa, the government cannot collect that tax, so the government loses that income. delta airlines, the airline lobbying so heavily to strip funding rights in this bill, they were one of the companies that reacted to the accidental tax holiday here by jacking up their prices and pocketing the difference for themselves. so far at least, this crisis, partial shutdown of the faa has been good for delta, and for some other airlines, they made more money off each ticket. after some substantial public shaming over this, delta agreed to refund to its customers the ticket taxes it decided to keep for itself. in this part of it at least, delta was shamed into doing the right thing. shamed into it. congress so far, not so much.
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the best new thing in the world today, this is a sappy one, i'm sorry. i was away for a week and a bit on vacation. it's great to be back on the air. if you are a regular viewer of the show, i hope you won't mind me saying, that for me, the best new thing in the world today is coming back to work knowing that things here have been in such good hands. melissa harris-perry has not only been a phenomenal guest and contributor on this network, she did such an awesome job hosting this show last week, you would never have known she had never done this before. >> we begin tonight, t minus
seven days and counting. six days to go, and still no deal. today was a day of utterly pointless theater. this is totally 100% a manufactured crisis. the hair on firefight happening in washington right now is fundamentally a debate over whether or not to destroy the economy. how do you define success. how do you know if the speaker of the house has been successful? this doesn't have to happen, the treasury department doesn't have to be put in the position of being the arbiter that gets paid. this is an extraordinarily tough job, thanks to rachel for letting me sit in. >> my thanks to melissa harris-perry who did a great job especially all the breaking news she had to deal with last week. melissa is incredible. she succeeded beyond all of our
wildest dreams. and as for the man who sat in this chair last night, even better news. the wonderful chris hayes of the nation magazine who is so great at one he does, it has just been announced that chris hayes is about to start his own hosting gig at msnbc. his new weekend show will start on september 17th, saturday mornings and sunday mornings. now, live smart awesome chris hayes on both weekend mornings which is just great. congratulations to chris hayes and melissa harris-perry for jobs well done. this network also announced today that i will be sticking around here for a long while yet. nothing could make me happier or prouder. that's a little indull gent. but for me, it really is the best new thing in the world today.